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545
But when we consider the magnitude of the city debt, and
the consequent burthens of taxations weighing down the in-
dustry of our people and paralyzing their energies, and that,
too, when great financial troubles are impending and the
substance of our people is wasting away and values changing,
however gratifying it might be to our feelings and our city
pride to have such a hall, we are admonished that this is not
the time to embark in such expensive enterprise.
The existing corporate debt of Baltimore city gathered from
information obtained from the City Comptroller, appears to
be as follows:
Funded and floating debts created at sundry
times and for various purposes................ $9,899,401 51
Guarantees for internal improvements and
debt for water supply and Public Parks.... 12,205,102 48
To which may be added for Union Railroad
Bonds guaranteed................................ 500,000 00
City Hall and other extraordinary expendi-
tures................................................. 2,000,00000
$24,604,503 99
It is proper to say that for the absortion of
this debt there is in various sinking funds
at this time......................................... 5,621,208 07
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Which deducted still leaves..................... $18,983,295 92
The annual interest upon this total debt, will be '
as thus computed....................................$1,476,270 24
In part payment of this sum there is received
from various sources, to wit: Baltimore and
Ohio Railroad five million loan.................. 3 00,000 00
York and Cumberland Guarantee Bonds......... 30,000 00
Western Maryland Railroad Bonds............... 12,000 00
Water Rents............................................. 267,068 17
City Passenger Railway for interest on Park
debt............................. .................... 33,23798
Baltimore and Ohio Railroad dividend on $ 3,-
500,000 stock......................................... 280,000 00
$922,306 15
Leaving of annual interest to be provided for
by taxation or otherwise, the sum of.......... $553,964 09
Great abuses of power and public confidence have grown
up in our city management. With a shameful disregard
of the true intention of government and the interest of the
citizen and tax payer, large sums of money have been drawn
from the City Treasury, merely to bestow patronage upon
partizan favorites. The Councils have sanctioned the clan-
destine use of large sums of money without accountability,
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